Norges Bank Purchases New Position in ONEOK, Inc. (NYSE:OKE)

Norges Bank acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,374,044 shares of the utilities provider’s stock, valued at approximately $539,554,000.

Other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in shares of ONEOK by 5.2% in the fourth quarter. Blair William & Co. IL now owns 147,224 shares of the utilities provider’s stock worth $14,781,000 after purchasing an additional 7,246 shares during the last quarter. Howe & Rusling Inc. raised its position in ONEOK by 2.0% in the 4th quarter. Howe & Rusling Inc. now owns 12,241 shares of the utilities provider’s stock worth $1,229,000 after buying an additional 244 shares during the last quarter. NEOS Investment Management LLC lifted its stake in ONEOK by 31.4% during the 4th quarter. NEOS Investment Management LLC now owns 35,995 shares of the utilities provider’s stock valued at $3,614,000 after acquiring an additional 8,609 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of ONEOK by 20.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 43,486 shares of the utilities provider’s stock valued at $4,366,000 after acquiring an additional 7,379 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in shares of ONEOK by 12.7% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 58,053 shares of the utilities provider’s stock worth $5,829,000 after acquiring an additional 6,533 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.2 %

ONEOK stock opened at $98.47 on Friday. ONEOK, Inc. has a 1 year low of $76.23 and a 1 year high of $118.07. The firm’s 50 day moving average price is $98.32 and its 200-day moving average price is $100.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market cap of $61.48 billion, a P/E ratio of 20.60, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. On average, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $1.03 dividend. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.18%. ONEOK’s payout ratio is presently 79.69%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price target on the stock. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Finally, Scotiabank reduced their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.